"If Oil India wants us to be their partner, we will support them," said Anil Agarwal.

Cairn India will continue to focus on oil production, "We have both on-shore and off-shore assets. We have Rava, which has a lot of potential and we will take it forward." added Agarwal. He also said that Cairn is looking at Rajasthan, Africa and Sri Lanka for more projects and expanding production capacity.

"We might go for some share buyback of Cairn India. We need some funds for capital expenditures," said Agarwal when questioned about Cairn's cash-pile.

However, Agarwal went on to say that he is in no hurry to ramp up production and will work along with the government.

"For us, the most natural material to produce is aluminum because India has abundant bauxite and coal. The country is entirely dependent on a Coal India for coal," said Agarwal, indicating that he might foray in the coal sector too.